Shares in Ingram Micro Corp., the Irvine-based electronics and technology distribution giant, jumped 14% to $25.08 apiece and a market cap of $5.9 billion today, the first day of the company’s trading on the New York Stock Exchange.
The company (NYSE: INGM) and its backer Platinum Equity sold 18.6 million shares yesterday for $22 each in its initial public offering after setting a price range of $20 to $23. That sale raised $409 million.
Tom Gores’ Platinum Equity private equity firm purchased Ingram Micro from Chinese conglomerate HNA Group for about $7.2 billion in 2021, and later decided on Ingram’s return to public trading.
For further details, see the Oct. 28 print edition of the Business Journal.
